Buenos Aires City Mayor Jorge Macri has announced that Buenos Aires City will receive 2.95-percent of federal revenue sharing funds, as established by the Supreme Court in a recent ruling.
“The Court’s ruling will be complied with starting on August 1, in the percentage indicated there,” Macri informed the press.
“We will go to the Court together to dialogue, that is why the payment of the debt will be part of the chat. We can rest assured that starting on that date the ruling will be complied with and together we will find a final solution to this discussion,” the mayor said.
According to Macri, the meeting he had on Friday morning with Economy Minister Luis Caputo ended in an agreement to comply with the Supreme Court’s judgment and for the national administration to release the funds.
“This is very important, going together to the Supreme Court to seek a final agreement, which is ultimately what will bring calm to all of us. Both the City and the Nation,” said the mayor, accompanied by Buenos Aires City Economy minister Gustavo Arengo.
“Minister Caputo thus fulfils his promise and it bring us calm. This government undoubtedly inherited this problem, and it is not the one that deprived us of resources. We must stress that it is complying, albeit a few months later, with the Court’s ruling starting on August 1,” he added.
Regarding the court’s rulings he added that it is important to respect them “for a country that attempts to attract investment. It reassures us because it allows us to maintain the operation and investments in the City as reasonably scheduled and together we will seek a future solution."
He further highlighted that “this money is much needed in the City because we need to continue paying teachers, educators, to continue water works, invest in security, in healthcare, so this is reassuring. Besides the big numbers which is a lot of money to any person, the important is for people to know that the City today has or starting on August 1 will have the resources to continue in an operational improvement plan as we had imagined."
It is assumed that the closeness and the agreement between Jorge Macri and the resolution of the government began to be conceived on July 9 when they shared the main balcony on Avenida del Libertador during the Independence Day parade.
The City stopped receiving on September 9, 2020 over 4.8 trillion pesos. Before the removal of Revenue Sharing, those funds accounted for 25 percent of the City’s total revenue.
The previous administration, headed by Alberto Fernández, never complied with the injunction issued by the Supreme Court on December 22, 2022, which acknowledged to Buenos Aires City a 2.95 percent revenue-sharing coefficient, instead of the 1.4 percent it currently receives.
Cristian Ritondo, head of the PRO caucus in the lower house Chamber of Deputies, had claimed about the topic to Cabinet chief Guillermo Francos, at Casa Rosada, where they held a meeting to outline the parliamentary agenda.
“I suggested the need to solve the issue of the City’s revenue sharing; legal insecurity is a problem for anyone who intends to invest," had disclosed Ritondo at Casa Rosada.
--TIMES/PERFIL
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